Week of: 06/13/22 – 06/17/22
The tables have turned a bit this time with sell-off seen across the board. Crypto markets nosedived and stocks plunged as we saw one of the hottest inflation readings in the U.S. and also because the Fed seems all set for its big interest rate decision this week.
Well, here’s what I wrote to you last week –
While the World Wealth Gauge is showing us some good readings, it begs the question – Is this rally real or one that’s going to fade soon? I think we are still in a ‘Sell the Strength’ kind of an environment. And if the market continues to rally, I’m not willing to buy it but sell at every rise.
As things stand today, I still believe the markets are on a weak footing and the major developments we’re seeing week after week are set bring in huge volatility ahead.
So, I’m going to stick to my view and sell in this environment. And that brings me to our favorite trades we’ve been talking about in this market.
Nothing has changed for our NCDCAD and AUDJPY trades we saw last week. I’m monitoring these positions closely and will come out with a trade update on these pairs next week.
Let’s revisit these trades quickly…
We’ve locked in over 290 PIPS on the NZDCAD currency pair with our original trade.
Here’s what I mentioned for the new trade setup for this pair last week:
- For the ones who are already in this new trade – I’m looking to take the stop loss if the currency pair hits 0.865 level.
- For the ones who aren’t in this trade – the current price is at a good point to enter into this trade. We can enter at a break above 0.8132 levels. Moreover, this can also be a good opportunity to lower down your buy price if you are already in this trade.
I still think this trade could rally up to our target levels. And overall, we have around +480 PIPS worth of potential upside on this trade with our target set at 0.8600 level.
The other favorite trade which we’ve been following is the AUDJPY trade. I’m still willing to sell this pair and I believe that the price will hit 76.50 levels.
Here’s a quick look at the two trade setups we have on this currency pair…
- If you’re not in this trade, a conservative option is to sell on a break below 93.05. The target here can be at 76.50 with a stop set at 102.85.
- And for ones who’ve been following this trade, the original trade setup was to sell at 90.06, 94.50, 97.25, and 100 levels. Our average price, if we did sell at these four levels, comes to 95.45. My profit target on this one is at 76.50
While the markets are acting crazy lately, I’m looking to profit from the resulting volatility with the above trades. Let’s stay after it with our effective strategies!
I’ll talk about how I’m planning to manage these trades ahead in our World Wealth Gauge video next week. So, don’t forget to check that out!
And to check out my other stock picks and strategies, you can join me in my Money Flow Trading Room. It’s where I talk about market and trade strategies every week.